China Plans Huge Project off 307(April 2011)

The Riviera Maya is abuzz with news that China will invest $150,000 million near Puerto Morelos for a commerce/exhibition hub of some 2,500 Chinese businesses servicing North and South America and opening a window to Europe.

Reporter Jesus Vazquez of Q. Roo's Economist writes that the huge project on 840,000 square meters includes 4,000 homes for Chinese workers and will add 5,000 direct jobs not counting Chinese labor. It is expected to be the largest Chinese community in Mexico.

The mart will be on Highway 307 near Puerto Morelos, 15 minutes from the Cancķn Airport and roughly 35 minutes from PA and Playa del Carmen once the overpass in Playa is completed.

The mart will advance international Chinese presence and offer direct sales of Chinese products. The project has already created 3,000 direct and indirect jobs, according to the report. Q. Roo has made concessions on taxes and infrastructure improvements to attract the project which could have gone to other South American countries such as Brazil. The nearby airport and possible improvements to the Morelos port were major factors in attracting the project, according to the report.

Judging from online activity, the news has real estate agencies, that have been looking for a way out of the recent economic slump, now focusing on the potential increases in peripheral property values including Puerto Aventuras and "boom-time" demand to enhance marketing and sales.